University of Washington
Administrative Policy Statements		 Rev/May 1998 14.1.7

Table of Contents

1. Introduction

2. The Office of Risk Management

3. Liability Coverage

4. Workers' Compensation Program

5. Accident Reporting

6. Legal Actions Against the University

7. Property Insurance

8. Health and Accident Programs
      

University Risk Management and Insurance Programs

(Approved by the Executive Vice President by authority of Executive Order No. 5)


7.   Property Insurance

a.   General Policy

The University does not normally purchase property insurance, but assumes the risk of loss to the real and personal property under its jurisdiction. The University may purchase insurance through the Broker of Record in the following circumstances:

  • When required by the terms of a bond or contractual agreement (such as a real estate contract or a conditional sales contract);

  • When buildings are financed by other than state funds (such as the Intramural Activities Building and the Student Union Building, which are financed by student fees);

  • When potential losses are determined to be too large for the unit having financial responsibility for the property to retain;

  • When a comparison of the cost of insurance with the value of the object and the probability of loss makes it cost effective to purchase insurance; or

  • When non-University property is in the care, custody, or control of the University.

b.   Personal Belongings

The University does not purchase property insurance to protect employee- or student-owned belongings and will not compensate the owner for loss or damage. The only exception to this policy is where the property is used in the normal course of job performance and the loss is clearly due to University negligence. In all other cases (including decorative or convenience items in offices), the University will not compensate the owner, irrespective of the cause of loss. Standard homeowner's policies do not necessarily apply to losses occurring at the insured's place of employment. To assure coverage, faculty, staff, and students who bring or leave personally owned property on campus should contact their insurance representatives about coverage.

c.   Residents Living in University-Owned Housing Units

Residents of University-owned housing must provide their own personal property insurance. The University assumes no responsibility for loss or damage to a resident's personal belongings. The only exception to this policy is if the loss is clearly due to University negligence and the loss is verified by University housing staff personnel. The Housing and Food Services Office can provide information on property insurance to housing residents.

d.   Equipment Insurance Program

University departments may insure computers, scientific instruments, audiovisual equipment, works of art, and some other types of equipment through the Office of Risk Management's equipment insurance program. The program covers replacement costs (without deduction for depreciation) and insures against most risks, including theft, fire, weather, or earthquake damage. Coverage is available both on-campus and at off-campus sites in the continental United States and Canada. Alternative insurance is available for foreign sites. Further information regarding premium rates, deductibles, and other program information is available on the Office of Risk Management's Web site, or by contacting the Office of Risk Management, 206–543–3419.

e.   Fidelity Bond

Each employee of the University is bonded for honesty by a Public Employees Blanket Bond. Any suspected loss should be reported at once to the Internal Audit Department, 206–543–4028, and the University Police, 206–543–9331. The Internal Audit Department will notify the Office of Risk Management.



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